Bank of Nova Scotia - BNS.t

Bank of Nova Scotia - BNS.t commonly known as Scotiabank, is the third largest bank in Canada by deposits and market capitalization. Scotiabank serves more than 21 million customers in over 55 countries around the world and offers a broad range of products and services including personal and commercial banking, wealth management, corporate and investment banking.

On May 31, 2016 the company reported Numbers

Second Quarter Highlights on a reported basis (versus Q2, 2015)			Second Quarter Year to Date Highlights on a reported basis (versus YTD 2015)
•	Net income of $1,584 million, compared to $1,797 million		•	Net income of $3,398 million, compared to $3,523 million
•	Earnings per share (diluted) of $1.23 compared to $1.42		•	Earnings per share (diluted) of $2.66 compared to $2.77
•	ROE of 12.1%, compared to 15.1%		•	ROE of 13.0%, compared to 14.7%
Second Quarter Highlights adjusting for the restructuring charge(1) (versus Q2, 2015)			Second Quarter Year to Date Highlights adjusting for the restructuring charge(1) (versus YTD 2015)
•	Net income of $1,862 million, compared to $1,797 million		•	Net income of $3,676 million, compared to $3,523 million
•	Earnings per share (diluted) of $1.46 compared to $1.42		•	Earnings per share (diluted) of $2.89 compared to $2.77
•	ROE of 14.4%, compared to 15.1%		•	ROE of 14.1%, compared to 14.7%

Scotiabank reported second quarter net income of $1,584 million compared to $1,797 million in the same period last year. Diluted earnings per share were $1.23, compared to $1.42 in the same period a year ago. Return on equity was 12.1% compared to 15.1% last year.
During the second quarter, the Bank recorded a restructuring charge of $278 million after tax ($378 million pre-tax). Adjusting for the restructuring charge, net income increased 4% to $1,862 million and diluted earnings per share rose 3% to $1.46 compared to last year. Return on equity was 14.4% compared to 15.1% a year ago.
"The strength of our results this quarter underscores the continued strong performance of both our Canadian Banking and International Banking businesses," said Brian Porter, President and CEO of Scotiabank. "Both businesses delivered solid asset and deposit growth and our strategy to deepen relationships with our customers has translated into growth. Partly offsetting our earnings growth were elevated loan losses in the energy sector, which are expected to decline beginning next quarter.
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